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Determine the liability that would be recorded by jenkins

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Question - Computing a Present Value Involving an Annuity and a Single Payment - The Jenkins Corporation has purchased an executive jet. The company has agreed to pay $201,700 per year for the next 10 years and an additional $2,017,000 at the end of the 10th year. The seller of the jet is charging 8% annual Interest. Determine the liability that would be recorded by Jenkins.

Reference no: EM133052757

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